A bill to amend section 280A of the Internal Revenue Code of 1954 with respect to rentals of dwelling units to family members, and for other purposes.

Summary

Amends the Internal Revenue Code to permit investors in residential rental property to claim business expense tax deductions with respect to dwelling units rented to any individual, including family members, if such units are rented at a fair market rental. Permits rentals pursuant to shared equity agreements. Defines "shared equity agreements" as agreements between two or more individuals in which such individuals acquire certain ownership interests in the property and one individual rents the property as his principal residence at a fair market rental. Extends until 1984 the application of the net operating loss rules added by the Tax Reform Act of 1976.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

No timeline events have been ingested for this record yet.

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

1 official file

• Introduced in House

  summary · EN · 5 November 1981

  Open at official source

Sponsors

No sponsors or actors listed by the source.

Related records

No cross-record relationships stored yet.